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Whatever gets you to the federal limit over the course of the year. If you make $100k, then 20% is ideal. If you make $200k, then 10% is fine.
@Publicis1 - Assuming you’ve been at the same 401k servicing company all year. If you’ve switched jobs, or your employer switches 401k servicers, it may not have all the information to make the correct calculation
As PM said, if you can contribute enough to reach the annual limit set by the IRS, ($20,500 if you’re younger than 50) do it! If you reach the limit and still have money you can invest, you can consider Roth IRAs. Or, depending on your openness to risk/experimentation, other options could be stock investing or non-traditional investments (for example, wine).
6% company match is average, but better than mine. Jealous!
There’s also traditional brokerage accounts which aren’t capped.
And LOL at “wine” as an alternative investment
22% is amazing! Wish I could do that much.
Put in as much as possible, as early as possible…you’ll never regret it.
1) get match in 401k
2) max out IRA (Roth or Trad depending on your tax bracket/preference)
3) max out HSA (if applicable)
4) max out 401k
5) standard brokerage
Appreciate the tips. I already buy stocks and shares alongside my 401k contribution but just wanna make sure I’m not paying tax I don’t need to pay. Used to buy crypto too but stopped that….